{"id":6785,"date":"2025-01-31T06:59:23","date_gmt":"2025-01-31T06:59:23","guid":{"rendered":"https:\/\/assignmenttask.com\/answers\/?p=6785"},"modified":"2025-01-31T06:59:53","modified_gmt":"2025-01-31T06:59:53","slug":"you-know-these-facts-about-a-companys-prior-calendar-year","status":"publish","type":"post","link":"https:\/\/assignmenttask.com\/answers\/you-know-these-facts-about-a-companys-prior-calendar-year\/","title":{"rendered":"You know these facts about a company\u2019s prior calendar year"},"content":{"rendered":"<h2><strong>You know these facts about a company\u2019s prior calendar year:<\/strong><\/h2>\n<ul>\n<li>Beginning inventory: 100 units at $10 each<\/li>\n<li>Ending inventory: 50 units at $9 each<\/li>\n<li>Inventory purchased for resale during the year: $2,000<\/li>\n<\/ul>\n<p>What can you calculate using this information? Select all that apply.<\/p>\n<p>A. Gross sales<\/p>\n<p>B. Net profit<\/p>\n<p>C. Contribution margin<\/p>\n<p>D. Cost of goods sold<\/p>\n<p>E. None of the above<\/p>\n<p><span style=\"color: #808000;\"><strong>Answers:<\/strong><\/span><\/p>\n<p>Based on the information provided, here are the financial metrics that can be calculated:<\/p>\n<p>Cost of goods sold:<\/p>\n<p>To determine COGS, one can simply add together the beginning inventory, $100 * 10 = 1000 dollars, and purchases of goods and subtract ending inventory.<\/p>\n<p>Final or ending inventory = 50*$9 = 450 dollars<\/p>\n<p>Acquisitions or adding purchases = 2000 dollars<\/p>\n<p>Thus COGS = Initial stock + Acquisitions \u2013 Final inventory.<\/p>\n<p>= $1,000 + $2,000 \u2013 $450<\/p>\n<p>= $2,550<\/p>\n<blockquote><p><em>Searching for help with assignments? Get the most <a href=\"https:\/\/assignmenttask.com\/assignment-writing-help.html\" target=\"_blank\" rel=\"noopener\"><strong>reliable assignment writing help online<\/strong><\/a>. We have a experienced team of <a href=\"https:\/\/assignmenttask.com\/experts\/\" target=\"_blank\" rel=\"noopener\"><strong>assignment writers<\/strong><\/a> are adept at tackling various assignment topics and formats, ensuring that your assignments are well-researched, coherent, and impeccably written. We understand the challenges students face, which is why we offer a \u201c<a href=\"https:\/\/assignmenttask.com\/do-my-homework-for-me\/\" target=\"_blank\" rel=\"noopener\"><strong>do my homework for me<\/strong><\/a>\u201d service. Simply reach out to us, and our team will ensure that your assignments are completed to the highest standards, allowing you to focus on other priorities. Assignmenttask.com is here to support you every step of the way.<\/em><\/p><\/blockquote>\n<p><a href=\"https:\/\/assignmenttask.com\/order-now.php\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-1261 size-full lazyload\" title=\"Order Now\" data-src=\"https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment.jpg\" alt=\"Order-Your-Assignment\" width=\"600\" height=\"150\" data-srcset=\"https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment.jpg 600w, https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment-300x75.jpg 300w, https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment-360x90.jpg 360w\" data-sizes=\"(max-width: 600px) 100vw, 600px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 600px; --smush-placeholder-aspect-ratio: 600\/150;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-1261 size-full\" title=\"Order Now\" src=\"https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment.jpg\" alt=\"Order-Your-Assignment\" width=\"600\" height=\"150\" srcset=\"https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment.jpg 600w, https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment-300x75.jpg 300w, https:\/\/assignmenttask.com\/answers\/wp-content\/uploads\/2019\/04\/Order-Your-Assignment-360x90.jpg 360w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/noscript><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You know these facts about a company\u2019s prior calendar year: Beginning inventory: 100 units at $10 each Ending inventory: 50 units at $9 each Inventory purchased for resale during the year: $2,000 What can you calculate using this information? Select all that apply. A. Gross sales B. Net profit C. Contribution margin D. Cost of goods sold E. None of the above Answers: Based on the information provided, here are the financial metrics that can be calculated: Cost of goods sold: To determine COGS, one can simply add together the beginning inventory, $100 * 10 = 1000 dollars, and purchases <a href=\"https:\/\/assignmenttask.com\/answers\/you-know-these-facts-about-a-companys-prior-calendar-year\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[729],"tags":[],"_links":{"self":[{"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/posts\/6785"}],"collection":[{"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/comments?post=6785"}],"version-history":[{"count":2,"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/posts\/6785\/revisions"}],"predecessor-version":[{"id":6787,"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/posts\/6785\/revisions\/6787"}],"wp:attachment":[{"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/media?parent=6785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/categories?post=6785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttask.com\/answers\/wp-json\/wp\/v2\/tags?post=6785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}